Published on 2/13/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $550,000 contingent coupon callable yield notes on stocks
By Tali Rackner
Minneapolis, Feb. 13 – Credit Suisse AG, London Branch priced $550,000 of contingent coupon callable yield notes due Feb. 2, 2021 linked to the common stock of Walt Disney Co., the class A common stock of Alphabet Inc. and the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9.95% if each stock closes at or above its barrier level, 60% of its initial level, on a related observation date.
The notes will be callable at par on any quarterly observation date beginning Aug. 2, 2018.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying stocks: | Walt Disney Co. (Symbol: DIS), Alphabet Inc. (Symbol: GOOGL), JPMorgan Chase & Co. (Symbol: JPM)
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| Amount: | $550,000
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| Maturity: | Feb. 2, 2021
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| Coupon: | 9.95% per year, payable quarterly if each stock closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to any losses of the least-performing stock
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| Call option: | At par on any quarterly observation date beginning Aug. 2, 2018
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| Initial stock prices: | $112.19 for Disney, $1,187.56 for Alphabet, $116.32 for JPMorgan
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| Barriers/knock-in levels: | $67.314 for Disney, $712.536 for Alphabet, $69.792 for JPMorgan; 60% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Feb. 2
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22550WA80
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